Yesterday, the POD conference hosted by Odaily and strategically co-organized by 36Kr Group was held in Beijing today. At the meeting, Yi Huanhuan, director of Asia Union Development, delivered a keynote speech on "The Coming of the Green Value Internet Era".

Yi Huanhuan believes that the rise of each round of scientific and technological revolution is due to technical conditions on the one hand, institutional conditions and surrounding macroeconomic conditions on the other. He said that with the advancement of sensing technology, the cost of data acquisition will be reduced; at the same time, the government has begun large-scale 5G trials, and the large-scale commercial use of 5G may be brought forward from the expected 2020 to next year; in addition, the progress of quantum computing and artificial intelligence will Increasingly, technology is a critical element to massively improve current computing and storage capabilities.

The emergence of blockchain allows data to be confirmed and turned into assets. When data becomes an asset, the entire Internet extends to the financial and economic field; when data is used as the basis, artificial intelligence is continuously trained to make smart contracts more effective. The combination of these things will push the entire Internet from the mobile Internet to the value Internet.

He said that the core elements and evaluation criteria of competition in each era are different. During the evolution of the Internet, the infrastructure has changed from data-based and network-based to trusted. However, the current blockchain infrastructure is not perfect in terms of technical standards, system services, mapping industry norms, and policy and governance frameworks, which also means that there are huge opportunities in it. He believes that whoever can become a standard maker will have a chance of winning in the next round of revolution.

At the end of the speech, Yi Huanhuan mentioned that as an entrepreneur, we must first answer three questions: first, are we solving the core problems in the process of human beings and digitalization; In this context, they are doing a practice, that is, they hope to solve environmental protection problems through blockchain.

For example, by combining ultra-small sensors, try to link assets and data in the environmental field. Such as pollution emission rights, air emission rights, carbon dioxide emission rights, etc. are measured through new technologies, and then recorded with blockchain. In this way, everyone's consumption will become a negative asset, and protection will become a positive asset. These two assets form corresponding data and asset transactions on the platform, which will eventually form a huge environmental transaction market.

The following is the full text of the speech:

The following is the full text of the speech:

I am very honored. Before the round table discussion, I have a time of about ten minutes to give you a simple report and report. Let me first introduce myself. My name is Yi Huanhuan, and I have been in charge of research and investment in the entire technology industry. Since 1999, we have experienced the first Internet bubble, then the mobile Internet, and now we see a new opportunity.

First of all, I would like to share with you some of our own core views on the technical field. Second, what are we doing? Third, I hope to have more integration with everyone in this process.

First of all, I would like to express my own observation to everyone: that is, I think whether it is the Chinese economy or the world economy, there will be more or less problems on the eighth day. You can recall that in 1998 we encountered the Asian financial crisis. In 2008, what happened to us? We have a global financial crisis. By 2018, you can actually see that, except for state-owned enterprises and Internet companies, all walks of life are currently facing a very big anxiety. Maybe the blockchain industry will be relatively better, but in this process You will find that every time there is a large-scale downturn, it is the development of the entire technology industry that further drives the entire economy and the entire new momentum.

Let’s not look at 20 years ago, let’s look at 10 years ago. The thing that touched us most at that time was that it happened suddenly in 2008. In fact, since 2007, the biggest driving force came from the emergence of smart phones. , and then coupled with the large-scale promotion of 3G network, and the time of China's promotion of 3G network is nearly 4 years later than overseas. Because of new smart terminals and better Internet access conditions, the development of cloud computing and big data was promoted on a large scale. We promoted cloud computing on a large scale in China's capital market in 2010. In 2011, we wrote The first three domestic reports related to the arrival of the era of big data.

Looking back, in fact, the rise of each round of scientific and technological revolution is due to technical conditions on the one hand, institutional conditions and surrounding macroeconomic conditions on the other. So what kind of environment are we facing now?

1. The core pain point of the blockchain is that the data on the chain is real, but how to make these data really go on the chain? I think we could see ubiquitous super-sensing devices proliferate very quickly as end nodes go from smartphones to smaller, ultra-microcomputers, and the cost may be in the pennies.

2. Because of the huge economic pressure, we can see that Beijing has started to carry out large-scale 5G pilot projects, and the large-scale commercial use of 5G licenses will be brought forward to next year from the previously expected 2020.

3. For the cloud computing we saw back then, Amazon has already exceeded a trillion market value. Now at the computing level, the further maturity of quantum computing and the further improvement of artificial intelligence will allow these two services to greatly improve our current computing. and storage capacity.

We have been talking about big data since 2011. Because of the emergence of the blockchain, the data can really be confirmed. We have established a Jiangsu Huaihai Big Data Trading Center in Xuzhou, Jiangsu. It has been groping for 4 years since its establishment. And discussing the business model, I found a very important question at present, that is, how to price the data? The prerequisite for pricing data is to discover it through the market, but how does this market exist? Another prerequisite is to confirm the rights of each piece of data, which is a very important key brought by the blockchain.

So when data becomes an asset, the entire Internet finance extends to the financial economy. When the data structure is upgraded, in fact, the blockchain brings about a very huge evolution. In addition, when data is used as the basis, artificial intelligence is continuously trained to make our smart contracts more effective. The combination of these things pushes the entire Internet from the mobile Internet to the value Internet.

We ourselves in the middle, in fact, we have invested in many companies in China’s A shares, including overseas markets. The core logic is that there has been no essential change around the entire change, that is, how to further upgrade the structure of the Princeton computer itself? The Princeton structure is a very important simulation of the input and output of the human brain. At present, we can see that all the so-called technologies can be matched one by one. Where is the bottleneck? Where there exists a huge corresponding opportunity.

In addition, we can see that in each era, the core and elements of competition among them and the evaluation criteria are different. During the bubble in 2000, who were the mainstream companies at that time? It is Cisco ci si kou, and a well-known operator.

But in the era of the information Internet, FAAMG (Facebook, Apple, Amazon, IBM, Google) has emerged overseas, and companies such as BAT have emerged in China. The core elements of competition are based on networking, competition depends on traffic, and business models are king. But at the next stage, in fact, it is very obvious from the overseas market that Tencent's stock price has fallen from close to 600 yuan, and then fell to less than 400 yuan now. What is actually a very important factor? Even places like WeChat have no traffic WeChat bonus.

Second, we can see that because of the blockchain, the emergence of a peer-to-peer payment system will have a very important impact on Alipay. In addition, coupled with the corresponding privacy protection of the blockchain, companies such as Didi and Baidu are facing huge challenges.

Therefore, in the process of the further evolution of the Internet, its foundation has changed from digitalization, from networking to credibility, and technology will become a very critical and core element. Here I can tell you that we have participated in the formulation of many standards, and China is also further investing in research and development of the blockchain from the bottom chip, core technology, and governance structure, especially in some applications in the financial industry technology. So in the middle, if we change the angle from the perspective of infrastructure:

1. Technical standards;

2. System services;

3. How to map the industry?

4. Policy and governance framework.

These are very imperfect, but also means that there are very huge opportunities. Whoever becomes the standard maker among them will occupy a high position in the next round of revolution.

From the Internet to the value Internet, during the period of further interaction between all industrial scenarios and infrastructure, many new players will come in, including builders, operators, and data rule makers. The granularity of the network will become finer and finer. We can see that in the PC Internet era, there are 2.1 billion global users. In the mobile Internet era, the number of connected nodes is 40 billion. But in the value Internet era, When every grain of sand is likely to be added to an ultra-small computer, corresponding communication occurs through light and magnetism at the same time, and encryption processing is performed on each node. The UP value of the entire node in the middle will be further improved, and the value of the entire network will be further increased geometrically. This process may take 10 years, or 5 years, and it also requires further improvement of the entire ecological environment.

So here we made a corresponding calculation. In fact, from the perspective of the value of the digital economy and the two axes of time, as long as you see a node, the data of the node itself is real, the node itself is more intelligent, and the node itself can access the network. Making data assets more and more valuable means that the value of the digital economy will increase tremendously.

As an entrepreneur, you need to answer three questions:

1. What problem did we solve? Is it solving the key problems in the whole human and digitalization process?

Second, what method to use? Maybe many of our technologies are not yet perfect, but a very important law in this industry is Moore’s Law. Problems that you cannot solve now may be solved in 18 months, and after 36 months, it will become It's cheap, and in another 54 months it could become a massively widespread use. In addition, we say that there is a very important law called Gerard's law in this industry. The evolution speed at key nodes will be far greater than the number of edge nodes. To use a saying in the Internet, the second child must die, so this is a very important core element.

Three, how big is the time space for this matter? What kind of person will do it? What kind of return does it generate? When we evaluate blockchain projects, we cannot be called an outstanding entrepreneur and investor without experiencing multiple rounds of bulls and bears. When the upsurge comes, he is full of enthusiasm, and when the industry starts to cool down, he is extremely pessimistic. Such a person can only become a leek. So what kind of cash flow is generated between bulls and bears, how to evaluate its data flow and assets, and how to solve the problem of on-chain, these should be questions worth answering for everyone here.

Under such a background, we have done a small practice ourselves. We hope to use the blockchain to try to solve the protection problem in the environment.

First, by combining ultra-small sensors, can we try to link assets and data in the environmental field? We can see that the right to discharge water, air, and carbon dioxide in the environmental industry can now be measured through new technologies. And after the low-cost measurement, use the blockchain to record it? After recording, everyone's consumption becomes a negative asset, while protection becomes a positive asset. These two assets form a corresponding data and asset transaction on the platform? This has formed a very huge environmental trading market. Based on this, environment-related applications are further derived. We can provide services to financial institutions, governments, and corresponding industries.

Let me tell you a very important thing. The entire financial industry is deleveraging, but there is a subdivided area that the government is currently promoting very vigorously, that is, green finance. In Tongzhou, Beijing, a green finance experimental zone will soon be established, and in the future, companies that provide environmental protection, environmental monitoring, and environmental data services will gather together. Therefore, our project will enjoy very good institutional dividends during the period.

On the other hand, in the process of the development of the financial industry and the technology industry, we found that in addition to typical cases such as Ant Financial, JD Finance, and Lufax, it is very important that the entire financial industry infrastructure in China has undergone earth-shaking changes. Variety. In addition to the People's Bank of China and the Credit Information Center, a new credit information system called Baihang Credit Information was created, allowing more data to be included in this field, and then formed a non-tamperable, relatively decentralized, and provided information to all financial institutions and individuals. A new credit and service system. In the middle, we try to provide a green credit system. Once the green credit system is established, we will connect with hundreds of financial institutions in the industry, such as Xingye, Huaxia, etc., hoping to provide enterprises in the field of environmental protection with A good set of financial services.

The blockchain is not yet mature for offline services, but we believe that it may be a very good entry window for the financial industry, game industry, and cultural industry, which are already highly digitized industries.

Here we have a very important ecological system, allowing all parties to enter this system through the alliance chain and the blockchain, and solve the data collection, data verification, and data tracking of all parties in real time, and further solve credit problems. Pain points corresponding to financial services. At the same time, everyone's protection rights and pollution rights are solidified into an asset and interest, and a corresponding comprehensive plan is further provided.

In the end what are we ourselves? There are 20 domestic listed companies and industrial groups as our shareholders.

First, we have a public chain service system centered on the environment. This system relies on some scenarios of our shareholders and tries to do pilot projects one by one. We feel that talking less about the vision and more solving the core problems is the number one.

Second, we have 8 million Chinese financial and securities investment users in China. We have established several relatively large ones in China's capital market, including the first and second levels, including blockchain, Equity, including some funds, etc., I hope to further discuss and cooperate with you.

Finally, I would like to give you a summary:

1. I think now we are facing a huge opportunity to evolve from the Internet of Information to the Internet of Value. This opportunity is not only the blockchain technology itself, but also data collection, data processing, data application, and data capitalization evolution process.

2. In this process, we actually have a lot of imperfections, which means we have a lot of opportunities. This is the second.

3. Let every technological revolution be accompanied by drastic changes in the financial market. We have seen Nasdaq in the 2000s, China’s GEM in 2009, and now this cannot be mentioned, because it involves, today’s host I specifically reminded me that I can only tell you about the huge new field of digital assets.

Finally, we are trying to use the blockchain to rely on our shareholder resources to solve the problem of green environmental protection. We hope to further cooperate and discuss with you in the green finance industry. At the same time, we also have a fund. If there is an opportunity, we hope to create a new tomorrow of value Internet with everyone.

Well, thank you all!